Now it just seems wrong that a group of almost exclusively tech-oriented angels should have to beg to find good Aussie startups to present to them, but that’s what’s happening with Innovation Bay who have put out a call for high quality startups for the October edition of their invite-only angel dinner. Founded by Ian Gardiner of Viocorp, Randal Leeb-Du Toit of Piclinq and Phaedon Stough of recruitment firm MitchelLake, Innovation Bay is a non-profit group created in 2003 aimed at creating a more intimate environment for tech investors and startups in Australia to share their experiences and network.
This week Phaedon explained to me that Australia has many angel investors but they are lawyers or doctors or have experience with mining investment or consumer goods, and they simply can’t wrap their heads around the tech sector. He, and Innovation Bay, are challenging this by assembling a select group of investors who either have previous experience with tech investment or are tech entrepreneurs who have made an exit and are looking to reinvest back into Australia. Unfortunately now the group is finding itself forced to ask: Perhaps the problem isn’t the community’s lack of investors, perhaps the problem is the lack of entrepreneurs?
Already, the Innovation Bay dinners are proving fruitful for presenting startups. Ticketing site Posse.com presented at the last angel dinner and has since secured four new investors, one who has joined the company’s board, and gained international connections from the event.
So Australia, please, I simply can’t believe that there are investors with money and no amazing startups to give it to. If you are looking for more information, email me for a contact with Phaedon or apply through the Innovation Bay site.
[...] but in the few months since that’s not so much the case. Posse presented at the selective Innovation Bay a few months ago and walked away with success. Melbourne-based startup QMcodes used the opportunity [...]
[...] After a last minute rush to seek out some good startups to pitch, the Innovation Bay dinner this week ended up with pitches from carbon accounting group Village Green and photo [...]
To Innovation Bay,
I consider myself an entrepreneur, but struggle with funding.
I have a number of products and concept to bring to market.
They range from sport/trade products, movie scripts, a beer product, Sporting Chant and Computer game.
But need help with funding to get these ideas to market.
My company is a start up company with my first product trade marked:
Eliminator… Eliminate the Competition
I hold IP Patent and PCT for concept and design, it can generate for a $30-$50k investment a gross profit $400K net profit $116K first year sales.
Any suggestions where to get an investor?
Kind Regards
Martin Contact: 0417252229